Is there going to be a scramble for properties????

socrates

confused31 wrote: »

i wont be doing anything mate i aint got no spare cash and neither have you hahahahaha!!!!:p:rotfl:

You are so knowledgeable!

Pyewacket338

socrates wrote: »

I commend you on your astuteness.

I know a few people who had to sell due to divorce, it came at the right time for them by chance.

They divorced because they were inherently stingy and their partners were spendthrifts. Credit cards and the like. Eventually it drove them apart.

Of course their other half still got half!

Seen that happen a few times... also seen the first date, first question...."do you own your own house!"

socrates

Pyewacket338 wrote: »

Seen that happen a few times... also seen the first date, first question...."do you own your own house!"

By the way we are getting lots of views on this post.

Where does your mate stay in Cyprus - I have property there in Limassol and Paphos - cost of living there is ridiculous since the Euro came in!

confused31_2

socrates wrote: »

You are so knowledgeable!

im just telling you how it is, i thought it was a good idea, the other person agreed, i am not in a position to do it and neither are you.

Its a shame but thats the way it is, im not going to gain by it, has im not in a position to do it but hope some savers look at this and thnk hey that isnt a bad idea.

All buy to letters started at sometime and anyone with any sense would know your better of becoming a buy to let landlord when house prices are at their lowest prices.

Im not going to ask you anything has to me it just seems you are bitter that other people are better placed than yourself.

I know people are in a better situation than me and i admit it, its about time you faced up to it yourself.

confused31_2

socrates wrote: »

By the way we are getting lots of views on this post.
!

wait until tomorrow;)

socrates

confused31 wrote: »

im just telling you how it is, i thought it was a good idea, the other person agreed, i am not in a position to do it and neither are you.

Its a shame but thats the way it is, im not going to gain by it, has im not in a position to do it but hope some savers look at this and thnk hey that isnt a bad idea.

All buy to letters started at sometime and anyone with any sense would know your better of becoming a buy to let landlord when house prices are at their lowest prices.

Im not going to ask you anything has to me it just seems you are bitter that other people are better placed tan yourself.

I know people are in a better situation than me and i admit it, its about time you faces uo to it yourself.

When did I say I am not in a position to do it - I said I would not touch it at less than 10% yield and as I know prices will drop further and interest rates will eventually rise, that yield is unlikely - rates always stay lower for less time than they are higher.

confused31_2

socrates wrote: »

When did I say I am not in a position to do it - I said I would not touch it at less than 10% yield and as I know prices will drop further and interest rates will eventually rise, that yield is unlikely - rates always stay lower for less time than they are higher.

forgive me for being thick but i aint got a clue what yeild is, and if you looked at my post, i did say when houses had either hit bottom or they was a real good bargain.

Ive never before considered buy to let, or even looked into it, thats why i made this post in the first place.

People can take the mick and say it wont work or it will, they can call me a knob say its like shares i dont really care.

Then there is the post;s like btl landlords are dxefdxwed, im not one, but i dont knock anyone for trying to make money, its all down to jealousy.

Evidence is there that its worked in the past, and if i was a saver i would seriously consider doing it, as it looks like a good idea.

Sorry if it upsets first time buyers and investors, but the people who have savings should be able to gain from the crash aswell, or isnt that fair???

socrates

The point is and listen carefully.

When prices do hit the bottom - the only people with enough balls to invest will be cash rich experienced investor/BTL LL's. Who probably sold at the peak and are buying back at the bottom of the market. Very similar to what happens in share trading.

There will be so much carnage that people who have NEVER invested in BTL properties will be too scared to put all their eggs in one basket.

Things are happening in this market that have never happened before and there is worse to come.

BTW yield I am discussing basically means I buy a property for £100k I get £10k in rent - thats a 10% yield. Like getting 10% interest on my money before expenses.

Before I, you or whoever could get near these properties cash buyers (investors) would snap them up. It's their business day in and day out.

confused31_2

socrates wrote: »

The point is and listen carefully.

When prices do hit the bottom - the only people with enough balls to invest will be cash rich experienced investor/BTL LL's. Who probably sold at the peak and are buying back at the bottom of the market. Very similar to what happens in share trading.

There will be so much carnage that people who have NEVER invested in BTL properties will be too scared to put all their eggs in one basket.

Things are happening in this market that have never happened before and there is worse to come.

BTW yield I am discussing basically means I buy a property for £100k I get £10k in rent - thats a 10% yield. Like getting 10% interest on my money before expenses.

Before I, you or whoever could get near these properties cash buyers (investors) would snap them up. It's their business day in and day out.

cheers, but surely the savers would be in the same position with cash waiting, they know they will get the money back for the house with rent money, after 12 years, surely this isnt that much of a bad risk? Its most likely that if they buy at the bottom they will sell the house more than 0 pounds in 12 years and that will be 100% profit.

If i had the money i would do it, would you????

mbga9pgf

confused31 wrote: »

cheers, but surely the savers would be in the same position with cash waiting, they know they will get the money back for the house with rent money, after 12 years, surely this isnt that much of a bad risk? Its most likely that if they buy at the bottom they will sell the house more than 0 pounds in 12 years and that will be 100% profit.

If i had the money i would do it, would you????

You are missing one important point. Not many have 100k spare in a credit crunch, far fewer that have 100k would be stupid enough to invest it in am illiquid asset that will take years and years to recover when equities are the next big thing. Look at the history. No crash ever recovers over a period of less than around 7 years. That is a long time in investing.

If all those people intelligent enough to have large wads of cash thought property was such a diamond steal, volumes wouldn't be at historic lows.

Face it, your house is going to be worth 40% less by the time you wake up and realize what has happened.

Wait and see!